China asks Britain for help to create financial super-regulator May 16, 2016 Britain has been advising China as it plans to create a new super-regulator to control its financial markets, according to reports. Chinese officials are looking to head off the stock market volatility that plagued its exchanges last year. Shares lost a third of their value in just one month having increased 150 per cent [...]
Greece could return to global debt markets by 2017 May 16, 2016 Greece could return to the global debt markets as soon as 2017 if international creditors agree on the latest debt relief measures later this month Prime Minister Alexis Tsipras has told a Greek newspaper. Speaking to Realnews, Tsipras also alluded that tapping into the markets would mean that "we might exit the bailout once and for all [...]
Burrito costs are going up by 20 per cent – here’s why May 16, 2016 The cost of producing a burrito is about to rise 20 per cent after a landmark tribunal hearing between a Mexican takeaway chain Chilango and HMRC. Judge Barbara Mosedale – who has previously ruled that filling in online tax returns was a breach of religious rights in certain cases – agreed with HMRC that burritos were hot food, meaning that [...]
Former pensions minister Steve Webb slams government for pensions dashboard failure May 15, 2016 British savers risk being left behind by the government's failure to engage with a new drive for a pensions dashboard, according to a former minister. As part of this year's Budget, the Treasury promised to ensure that the pensions industry designs, funds and launches a dashboard by 2019. However, former Liberal Democrat pensions minister Steve Webb, now [...]
RBS mulls sale of Williams & Glyn and NatWest May 15, 2016 Royal Bank of Scotland's advisers are reportedly weighing a shock move to divest both Williams & Glyn and NatWest, as the bank seeks to accelerate sell-off plans. According to the Sunday Telegraph, RBS advisers, Bank of America Merrill Lynch and Robey Warshaw, are weighing the NatWest move in a bid to ease tech problems behind the Williams [...]
Premier Foods to face investor fury after failed US deal May 15, 2016 Premier Foods is likely to be heavily scrutinised by investors this week for its failed US deal as it announces its full-year results. The share price closed at 39.25p on Friday but had peaked at 60.25p at the end of March as a result of repeated takeover approaches from US flavouring giant, McCormick. Although steadfastly defended [...]
Monsoon boss bags £27m dividend despite tumbling sales May 15, 2016 Monsoon boss Peter Simon has been paid a dividend of £26.9m, despite the retail chain reporting tumbling profits. In the UK, Monsoon, that also owns fashion chain Accessorize, recorded profits of just £847,000 for the year to 29 August 2015, down from £28m worth of profit recorded in the prior 12 months. Announcing the numbers, the retailer said last week [...]
Over 400 shops to be sold as part of £2.3bn Ladbrokes-Coral merger May 15, 2016 Bookies Ladbrokes and Coral look set to find out exactly how many branches they must sell this week as part of their £2.3bn merger. The Competition and Markets Authority (CMA) verdict on the deal is expected in the coming days, with The Sunday Telegraph reporting that the watchdog will order the combined firm to offload between 400 and 500 [...]
Burberry checked: Luxury retailer set to report seven per cent profit drop May 15, 2016 Luxury retailer Burberry will reportedly announce a dramatic reduction in annual profits this week. According to The Sunday Times, the firm is likely to report a 7 per cent drop in profits to £415m for the year to the end of March, with Burberry chief executive Christopher Bailey likely to unveil a raft of cost-cutting measures. It comes [...]
Parking mad: London parking spaces sold for over £200,000 May 8, 2016 LONDON is one of the world’s most expensive places to pay for parking space. On Brewer Street in Soho, for example, you could spend over £50 on just three hours of parking. That may be why some mysterious buyers have forked out as much as much as half a million pounds to buy a parking [...]
